It wasn't too long ago that Corcoran mega-agent Sharon Baum told the Observer's Michael Calderone that a potential buyer at the under-conversion Stanhope Hotel was looking to smash all records with a $60 million two-floor purchase. Well, that was then. Calderone spins a much different tale of the Stanhope's situation in this week's particularly juicy Manhattan Transfers column, outing the glamorous condop's 27 residences as nothing more than "massive Hobbit holes," and referring to it as the Upper East Side's white elephant. The problem? Well, there's a few (including outrageous carrying costs and the land-lease situation), but it seems like most point to the 9' ceilings, which apparently look ridiculous in an 8,000-square-foot apartment. In fact, some brokers tell Calderone that no contracts have been signed after five months on the market, a stunning claim vehemently denied by the brokers and developer. Dust off your white gloves, kids, this one's getting juicy!
· Upper East Side White Elephant [Observer]
· It Happened One Weekend: More Stanhope Excess [Curbed]
· Floorplan Porn: Stanhope Residences [Curbed]